Delek US (NYSE:DK) Price Target Raised to $22.00

Delek US (NYSE:DK) had its price target increased by JPMorgan Chase & Co. from $21.00 to $22.00 in a research report sent to investors on Tuesday,Benzinga reports. They currently have a neutral rating on the oil and gas company’s stock.

Other equities analysts have also issued reports about the stock. Mizuho upgraded shares of Delek US from an “underperform” rating to a “neutral” rating and decreased their price objective for the stock from $28.00 to $26.00 in a report on Monday, September 16th. Scotiabank decreased their price objective on shares of Delek US from $25.00 to $22.00 and set a “sector perform” rating on the stock in a report on Thursday, October 10th. Morgan Stanley decreased their price objective on shares of Delek US from $24.00 to $22.00 and set an “underweight” rating on the stock in a report on Monday, September 16th. StockNews.com lowered shares of Delek US from a “hold” rating to a “sell” rating in a report on Saturday, September 21st. Finally, Bank of America initiated coverage on shares of Delek US in a report on Thursday, October 17th. They issued an “underperform” rating and a $15.00 price objective on the stock. Six investment analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $21.10.

Delek US Price Performance

Shares of DK stock opened at $17.56 on Tuesday. The company has a debt-to-equity ratio of 3.18, a current ratio of 1.04 and a quick ratio of 0.67. The firm’s 50-day moving average is $18.13 and its two-hundred day moving average is $20.73. Delek US has a 12 month low of $15.36 and a 12 month high of $33.60. The company has a market capitalization of $1.11 billion, a PE ratio of -3.63 and a beta of 1.22.

Delek US (NYSE:DK) last issued its earnings results on Wednesday, November 6th. The oil and gas company reported ($1.45) EPS for the quarter, topping analysts’ consensus estimates of ($1.71) by $0.26. Delek US had a negative net margin of 2.27% and a negative return on equity of 28.21%. The company had revenue of $3.04 billion for the quarter, compared to the consensus estimate of $3.23 billion. During the same period in the previous year, the firm earned $2.02 earnings per share. Delek US’s quarterly revenue was down 34.3% compared to the same quarter last year. Analysts predict that Delek US will post -4.4 earnings per share for the current year.

Delek US Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 18th. Stockholders of record on Tuesday, November 12th were issued a $0.255 dividend. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $1.02 dividend on an annualized basis and a dividend yield of 5.81%. Delek US’s payout ratio is -20.99%.

Institutional Trading of Delek US

A number of hedge funds and other institutional investors have recently bought and sold shares of DK. Rubric Capital Management LP purchased a new position in shares of Delek US in the 3rd quarter valued at about $37,500,000. Philosophy Capital Management LLC purchased a new position in shares of Delek US in the 3rd quarter valued at about $21,471,000. Encompass Capital Advisors LLC purchased a new position in shares of Delek US in the 2nd quarter valued at about $22,833,000. Point72 Asset Management L.P. purchased a new position in shares of Delek US in the 2nd quarter valued at about $19,806,000. Finally, International Assets Investment Management LLC increased its holdings in shares of Delek US by 1,753.2% in the 3rd quarter. International Assets Investment Management LLC now owns 648,507 shares of the oil and gas company’s stock valued at $12,160,000 after acquiring an additional 613,514 shares during the last quarter. 97.01% of the stock is currently owned by institutional investors and hedge funds.

Delek US Company Profile

Delek US Holdings, Inc engages in the integrated downstream energy business in the United States. The company operates through Refining, Logistics, and Retail segments. The Refining segment processes crude oil and other feedstock for the manufacture of various grades of gasoline, diesel fuel, aviation fuel, asphalt, and other petroleum-based products that are distributed through owned and third-party product terminal.